Announcement • Nov 01
MACH Metals Australia Pty Ltd completed the acquisition of remaining 84.20% stake in Rex Minerals Limited (ASX:RXM). MACH Metals Australia Pty Ltd entered into a Scheme Implementation Deed to acquire remaining 84.20% stake in Rex Minerals Limited (ASX:RXM) for approximately AUD 300 million on July 8, 2024. A cash consideration valued at AUD 0.47 per share will be paid by MACH Metals Australia for 767,901,670 Rex Shares and 5.387501 million for 38.750006 million options. Upon completion, MACH Metals Australia Pty Ltd will own 100% stake in Rex Minerals Limited. The transaction is subject to approval by regulatory board / committee, approval of offer by target shareholders and requisite court approval. The deal has been unanimously approved by the board of Rex Minerals. As of October 15, 2024, the deal has been approved by the Federal Court of Australia. The expected completion of the transaction is in late October 2024. The deal is expected to close on October 30, 2024. As of October 10, 2024, the FIRB and the shareholders of Rex Minerals Limited approved the scheme. As of October 16, 2024, the transaction has been approved by the Federal Court of Australia.
Macquarie Capital Limited acted as financial advisor for Rex Minerals Limited. Baker & Mckenzie acted as legal advisor for Rex Minerals Limited. Moelis Australia Securities Pty Ltd. acted as financial advisor for MACH Metals Australia Pty Ltd. Corrs Chambers Westgarth acted as legal advisor for MACH Metals Australia Pty Ltd. Computershare Investor Services Pty Limited acted as registrar to Rex Minerals. MA Financial Group Limited (ASX:MAF) acted as financial advisor to MACH Metals.
MACH Metals Australia Pty Ltd completed the acquisition of remaining 84.20% stake in Rex Minerals Limited (ASX:RXM) on October 30, 2024. New Risk • Sep 18
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 29% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$17m free cash flow). Earnings are forecast to decline by an average of 29% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$28m net loss in 2 years). Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (23% increase in shares outstanding). New Risk • Sep 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 29% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$17m free cash flow). Earnings are forecast to decline by an average of 29% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$28m net loss in 2 years). Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (23% increase in shares outstanding). Announcement • Jul 10
MACH Metals Australia Pty Ltd entered into a Scheme Implementation Deed to acquire remaining 84.20% stake in Rex Minerals Limited (ASX:RXM) for approximately AUD 300 million. MACH Metals Australia Pty Ltd entered into a Scheme Implementation Deed to acquire remaining 84.20% stake in Rex Minerals Limited (ASX:RXM) for approximately AUD 300 million on July 8, 2024. A cash consideration valued at AUD 0.47 per share will be paid by MACH Metals Australia for 767,901,670 Rex Shares and 5.387501 million for 38.750006 million options. Upon completion, MACH Metals Australia Pty Ltd will own 100% stake in Rex Minerals Limited. The transaction is subject to approval by regulatory board / committee, approval of offer by target shareholders. The deal has been unanimously approved by the board of Rex Minerals. The expected completion of the transaction is in late October 2024.
Macquarie Capital Limited acted as financial advisor for Rex Minerals Limited. Baker & Mckenzie acted as legal advisor for Rex Minerals Limited. Moelis Australia Securities Pty Ltd. acted as financial advisor for MACH Metals Australia Pty Ltd. Corrs Chambers Westgarth acted as legal advisor for MACH Metals Australia Pty Ltd. Computershare Investor Services Pty Limited acted as registrar to Rex Minerals. Price Target Changed • Jul 09
Price target decreased by 7.5% to AU$0.60 Down from AU$0.65, the current price target is an average from 3 analysts. New target price is 36% above last closing price of AU$0.44. Stock is up 91% over the past year. The company is forecast to post a net loss per share of AU$0.023 next year compared to a net loss per share of AU$0.042 last year. Price Target Changed • May 25
Price target increased by 8.8% to AU$0.58 Up from AU$0.53, the current price target is an average from 3 analysts. New target price is 122% above last closing price of AU$0.26. Stock is up 16% over the past year. The company is forecast to post a net loss per share of AU$0.018 next year compared to a net loss per share of AU$0.042 last year. New Risk • May 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 3.2% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$16m net loss in 2 years). Shareholders have been diluted in the past year (30% increase in shares outstanding). New Risk • Mar 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 1.8% per year for the foreseeable future. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$8.0m net loss in 2 years). Shareholders have been diluted in the past year (29% increase in shares outstanding). Market cap is less than US$100m (AU$130.5m market cap, or US$86.2m). Announcement • Jan 18
Rex Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 29.78427 million. Rex Minerals Limited has filed a Follow-on Equity Offering in the amount of AUD 29.78427 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 63,698,759
Price\Range: AUD 0.185
Discount Per Security: AUD 0.00925
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 52,941,176
Price\Range: AUD 0.17
Discount Per Security: AUD 0.0051
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 52,941,176
Price\Range: AUD 0.17
Discount Per Security: AUD 0.0085
Transaction Features: Rights Offering; Subsequent Direct Listing Price Target Changed • Nov 04
Price target decreased by 16% to AU$0.27 Down from AU$0.32, the current price target is provided by 1 analyst. New target price is 64% above last closing price of AU$0.17. Stock is down 8.3% over the past year. The company posted a net loss per share of AU$0.042 last year. Announcement • Oct 27
Rex Minerals Limited, Annual General Meeting, Nov 28, 2023 Rex Minerals Limited, Annual General Meeting, Nov 28, 2023, at 11:01 AUS Eastern Standard Time. Location: Baker McKenzie, Level 19, 181 William Street Melbourne Victoria Australia Agenda: To consider adoption of Remuneration Report; to consider re-election of Ms. Amber Rivamonte; to consider Refreshment of Previous Share & Unlisted Option Issues Placement; and to consider Grant of Options to the Managing Director, Executive Director of Finance, and Non-Executive Directors. New Risk • Sep 12
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$37m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$37m free cash flow). Earnings have declined by 37% per year over the past 5 years. Revenue is less than US$1m (AU$537k revenue, or US$345k). Minor Risks Shareholders have been diluted in the past year (7.4% increase in shares outstanding). Market cap is less than US$100m (AU$117.8m market cap, or US$75.6m). New Risk • Sep 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$23m free cash flow). Earnings have declined by 29% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (6.8% increase in shares outstanding). Market cap is less than US$100m (AU$117.1m market cap, or US$75.5m). New Risk • Aug 12
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.8% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$23m free cash flow). Earnings have declined by 29% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (6.8% increase in shares outstanding). Market cap is less than US$100m (AU$126.6m market cap, or US$82.2m). Announcement • Dec 20
Rex Minerals Limited Announces Hog Ranch Gold Trend Extended Rex Minerals Ltd. completed orientation soil sampling surveys in late 2021 which highlighted the effectiveness of a modern and consistent soil sampling process when compared with the older soil sampling data undertaken by previous explorers at Hog Ranch. This prompted Rex to undertake a new large-scale soil sampling program based on XRF analysis for key gold pathfinder elements and conduct laboratory-based gold analysis. It is recognised that some pathfinders provide a better indicator of the gold system as they can exist at shallow levels within an epithermal system above the potential gold position where the gold is not exposed on the surface. The regional soil survey comprised: a total of over 8,000 samples samples collected over a 79km2 area survey completed over a period of four months. The results from the pathfinder elements, particularly Arsenics (As), have shown a strong overall north-west trend to the anomalism. This trend appears to be very strong over the Krista Project area, where the host rocks are well exposed the trend has a more subtle response where there are partial cover rocks up to the Airport deposit. This pattern is then hidden by deeper cover rocks, before further partial exposure at the Gillam Prospect area shows a similar trend which lines up directly with the projected trend from the Krista to Airport area. It has been noted in the reports from historical open pit mining at Hog Ranch (Bussey, 1996), that a combination of north-east, north-west and due north orientated faults appears to have some control on the location of the gold mineralisation at Hog Ranch. These features identified on a smaller scale within the open pit mines are also reflected in many of the major regional datasets, which include magnetic imagery, radiometric data and now also the regional soil sampling data. Considering that the trend likely continues underneath the deeper cover rocks, this would imply a total strike length of some 16km for a large-scale Gold Trend for which the combined historical mining (300kozs) and current Mineral Resource (2.26Mozs) represents less than 20% of the target surface area. In addition, the historical mining and current drilling information has very rarely exceeded 100m beneath the surface for any part of this emerging Gold Trend. Epithermal gold systems can extend over a significant depth range, with the vertical scale often exceeding 500m. Rex interprets that the combined datasets will greatly assist with targeting over a large area for drill- ready future exploration campaigns. Further to the regional soil sampling, Rex has also completed a gravity survey focused on the Gillam Prospect to identify major breaks or trends which may also line up prospective faults that appear in the magnetic data and soil sampling data. Rex interprets that the large deep-seated structures which may be important to the development of the gold mineralisation could be reflected in the gravity data. After some delays due to a change in the drilling contractor at Hog Ranch, the drilling for 2022 was completed at Airport and at Bells in September. Final assay results have now been received from all drilling programs. Drilling at Airport was designed to test for extensions to earlier drill intersections which were originally targets from geophysical 3D Induced Polarisation information. Assay results from Airport contained some significant gold anomalism with broad intervals from drill holes HR22-007 and HR22-008 averaging 0.3g/t gold. At the Bells Project, Reverse Circulation (RC) drilling tested a number of possible extensions to the south over alteration and hyperspectral features and the north-west over a gold soil anomaly which exists along the interpreted strike of a controlling structure. The results on the main north-west structure at Bells appear to confirm the position of the structure at a shallow position. This structure may have deeper roots that remain untested. This structure is now inferred to be mineralised over a lateral distance of over 700m and is believed to host higher-grade positions at favourable inflection points. These inflections remain untested. Announcement • Dec 16
Rex Minerals Limited Releases 2022 Hillside Mineral Resource and Ore Reserve Statement Rex Minerals Ltd. has completed an update to both the Mineral Resources and Ore Reserves for the Hillside Copper-Gold Project (Hillside) on the Yorke Peninsula, South Australia. Hillside Mineral Resource Estimate Summary The Mineral Resource Estimate (MRE) for the Hillside Project as of December 2022 is 337Mt @ 0.56% copper (Cu) and 0.14g/t gold (Au), containing 1,897kt of copper and 1,528koz of gold. This MRE supersedes the previously reported MRE for the Hillside deposit which was reported by Rex on 25th May 2015. The 2022 Hillside MRE is reported at a cut-off grade of 0.2% copper. Hillside Ore Reserves Summary: The Ore Reserves estimate for the Hillside Project as of December 2022 is 186Mt @ 0.53% copper and 0.14g/t gold, containing 989kt of copper and 834kozs of gold. The updated Ore Reserves are based on the July 2021 Stage Two Pre-Feasibility Study transition plan. The Stage Two transition plan is a series of phased pushbacks that begin during the Stage One Mine Plan. Stage One is approved under the current Program for Environment Protection and Rehabilitation (PEPR). A decision to transition to the Stage Two Mine Plan could occur by year five. Under this transition plan, the Stage One open pit can transition to Stage Two and continue for more than 20 years of an updated open pit mine schedule. The December 2022 MRE was used as the basis for the December 2022 Ore Reserves estimate. Measured and Indicated Resources have been converted to Proved and Probable Ore Reserves respectively, subject to mine design physicals and an economic evaluation. Ore Reserves by Rex were calculated from a mine design completed by AMC Consultants and mineral processing work completed by Ausenco. Changes to the Previous 2015 Mineral Resource: Work undertaken as part of the 2022 MRE saw minor changes, due to a modification of the block size in consideration of the natural geometry and distribution of the copper mineralisation at Hillside. The smaller block size provides for a higher level of definition between higher grade and lower grade blocks or waste blocks which match the equipment selection for the proposed Hillside mine. All other variables including drillhole data, geological interpretation and grade interpolation methods are un-changed since the previous MRE. Comparisons between the 2015 and 2022 Hillside MRE (Table 3) resulted in a reduction of approximately 3% to the copper metal content for the total MRE. Changes to the Previous 2021 Ore Reserve: The Ore Reserves represent an update to the previous Ore Reserves announced to market on 20 July 2021. A comparison of this Ore Reserves estimate to the 2021 estimate is presented in Table 4. There has been no mining or depletion of the 2021 Ore Reserves since their calculation. Work undertaken as part of the 2022 Hillside Ore Reserves saw no material change to the Ore Reserves from the 2021 Hillside Ore Reserves as a result of the updated Hillside MRE. Announcement • Dec 14
Rex Minerals Limited Commits to Next Phase of Hillside Copper-Gold Project Rex Minerals Ltd. announced moving ahead with project financing and operational readiness plans following completion of the Optimised Feasibility and Definition Phase Engineering Study (OFS). The 100%-owned Hillside Project (Hillside) is one of the most significant copper-gold projects in the country and is located less than two hours' drive from Adelaide, South Australia. High level key points: Project Value for Stage One, Net Present Value (NPV) A$1,252M (pre-tax), NPV of AUD 847 Million (post-tax), Internal Rate of Return (IRR) of 19% (nominal IRR 23%) (spot IRR 21%), C1 of $1.52/lb copper (spot C1 $1.39/lb), 4.3-year payback period; Scale and Opportunity - Stage One (11 years) lays the foundation for a 20 plus year operation and extracts around half of the current Ore Reserve. Substantial potential exists for Resource and Or Reserves growth, leading to mine life extension and higher processing rates beyond Stage One; First Production - Annual payable metal of circa 42kt copper (Cu) and 30koz gold (Au) to follow ramp-up. First concentrate delivery timing Q4CY20255, to align with the beginning of the forecast global copper market deficit; Estimated pre-production capital cost of AUD 854 Million (USD 598 Million) all-inclusive of full fleet, pre-strip and contingency; Team - Board and Management have significant experience in delivering similar projects in Australia and internationally; Contribution - Hillside to provide employment for over 500 people during construction and over 400 during operations (over $600 Million in payroll) and contributing over AUD 200 Million in state royalties; Regulatory Approvals - Key approvals are in place to allow commencement of development and operations; Next Steps - Rex is actively seeking suitable funding via a structured process, to align with the detailed engineering, construction and operational readiness plans. Potential strategic partnerships via a minority interest are being discussed. Announcement • Oct 14
Rex Minerals Limited, Annual General Meeting, Nov 17, 2022 Rex Minerals Limited, Annual General Meeting, Nov 17, 2022, at 11:01 AUS Eastern Standard Time. Location: Baker McKenzie Level 19, 181 William Street Melbourne Vic Victoria Australia Agenda: To receive and consider the financial statements of the Company and the reports of the Directors and the auditor for the year ended 30 June 2022; to consider Re-election of Mr Andrew Seaton; and to consider Adoption of Remuneration Report. Announcement • Oct 13
Rex Minerals Ltd has Received Assay Results from Seven RC Drill Holes completed at the Krista Project Rex Minerals Ltd. has received assay results from seven RC drill holes recently completed at theKrista Project, from within the Company's 100% owned Hog Ranch Gold Property in Nevada, USA. Highlights from Krista RC drilling include: HR22-018 with 147.8m @ 0.62g/t gold (Au) from surface (est. true width ~104m) including: 45.7m @ 1.06g/t Au from 44.2m. HR22-001 with 32.0m @ 0.53g/t Au from 128m. HR22-004 with 6.1m @ 1.19g/t Au from 83.8m. HR22-020 with 3.0m @ 2.26g/t Au from 221m (interpreted new structure). RC drilling was also completed over the Airport and Bells Projects in September assay results pending. Extensive regional soil sampling program completed over the entire Hog Ranch Claim holding (over 79km2) assay results pending. New gold targets identified via recently completed regionalground geophysical (gravity) survey. Krista Drilling Program: A total of seven drill holes for just over 1,600m have been completed at Krista. These holes (targets)and their collar locations were severely restricted by the very limited area for surface disturbanceavailable. This RC program had multiple objectives, including confirmation to the continuity of the gold mineralisation around the historical open pits, whilst also testing potential extensions to the known gold mineralisation. This includes higher-grade feeder structures at depth. Hole HR22-018 was completed to test for deeper extensions to the gold mineralisationunderneath the historical Krista open pit in addition to possible feeder structures. This drill hole went through open pit back-fill material (historical low-grade ore) which contained an average grade of 0.49g/t gold. This was followed by a section of relatively high-grade gold mineralisation from the base of the historical open pit which intersected 45.7m @ 1.06g/t gold. Drill holes HR22-001 and HR22-019 were testing for the extensions of north-west trending goldmineralisation extending away from the historical Geib open pit. This was largely confirmed in drill hole HR22-001 which intersected an interval of 32.0m @ 0.53g/t gold from 128m down hole. Drill holes HR22-002 and HR22-020 tested a number of features which show up in a CSMAT survey and from the hyperspectral survey which indicated a hidden position at this location. A possible feeder structure was identified in HR22-020 which intersected 3.0m @ 2.26g/t gold in addition to broader lower-grade mineralisation in both HR22-020 and HR22-002. Rex interprets these results to confirm a significant increase to the gold footprint at Krista under shallow cover, with further drilling required to define the higher-grade gold positions at this location. Drill holes HR-003 and HR-004 were designed to test for an apparent structure to the west of the historical East open pit. The evidence from magnetic imagery and hyperspectral imagery infers some very large structures which extend through and well beyond the historical drilling information. Some evidence for this interpretation was intersected in drill hole HR22-004 which intersected 6.1m @ 1.19g/t gold from 83.8m down hole. Announcement • Jul 19
Rex Minerals Ltd Announces Assay Results from Krista Area Rex Minerals Ltd. announced that it has received the assay results from one (HR22-018) out of seven RC drill holes recently completed at the Krista Project, from within the Company's 100% owned Hog Ranch Gold Property in Nevada, USA. Highlights from RC drill hole HR22-018 include: 147.83m @ 0.62g/t gold (Au) from surface (est true width approximately 104m) including: 45.72m @ 1.06g/t gold from 44.2m (est true width approximately 32m) and 4.57m @ 2.42g/t gold from 137.16m (est true width approximately 3.2m). The RC drill rig has since moved on to the Cameco and Airport Project area. All samples from the Krista drilling program are at the lab with results anticipated over the following 6-8 weeks. RC drilling at Hog Ranch has been completed over a broad number of target locations at the Krista Project area. This include tests for down dip extensions of historical drilling data and previously untested structures and breccias that are interpreted to be higher grade feeders for the extensive shallow gold mineralisation. Drill hole HR22-018 was designed to confirm the broad gold mineralisation underneath the historical Krista Open Pit. The historical drilling is vertical and often ended in gold mineralisation. Hole HR22-018 confirmed further extensions at depth to the known gold mineralisation in addition to a deeper higher grade gold position. This position is interpreted to be related to a feeder structure. Announcement • May 13
Rex Minerals Limited Kicks Off Exploration Activities At Its Hog Ranch Gold Property Located in Nevada USA (100% Equity) for the 2022 Field Season Rex Minerals Ltd. has kicked off exploration activities at its Hog Ranch Gold Property located in Nevada USA (100% Equity) for the 2022 field season. Drilling activities have now commenced with the first drill hole underway at the Krista Project. The RC drilling program planned for Hog Ranch will include testing of multiple targets and extensions to earlier discoveries at Krista, Airport and Bells Projects. This program is for 4,000m of drilling for over 15 drill holes spread over the three project locations. Regional mapping and site visits in late April at Hog Ranch confirmed new prospects and target locations. Rex interprets that the Cottonwood Creek Caldera hosts a major regional "Gold Trend" and multiple target types. Evidence includes the presence of silica sinter found at multiple locations and often over a broad area. These observations, coupled with evidence of ancient hot springs, are interpreted to be very positive exploration vectors for epithermal gold occurrences. Gold has already been located over a large part of the Hog Ranch Property, with a 2.26Moz JORC compliant Mineral Resource defined since the asset was purchased in August 2019. As announced on 30 March 2022, Rex completed a series of successful trial gold soil programs which have shown that a new modern soil sampling program should be very successful at identifying the location of further gold mineralisation at Hog Ranch. The trial soils were successful at identifying anomalies using both gold pathfinder elements and gold in soils over known gold in drill hole data. These results have prompted Rex to commence a regional soil sampling program on a 100m x 100m grid for the entire land holding captured by Rex's Mining Claims at Hog Ranch. When complete and combined with the new regional airborne magnetic, radiometric and hyperspectral surveys, we will have for the first time a complete and comprehensive data set which is already providing evidence for the Regional potential at Hog Ranch, well beyond the existing Mineral Resource of 2.26Mozs of gold. The soil program is now well underway and completed onsite work is anticipated to be completed for the entire regional survey within a few months, with initial assay results anticipated approximately a month after the completion of the soil sampling program in the field. Announcement • Apr 21
Rex Minerals Limited Announces Change in Directorship to Focus on Hillside Rex Minerals Ltd. announced the next step in its development of the Hillside Copper Project in South Australia. Ron Douglas has on 21 April 2022 stepped down as a Director of Rex so that he can focus on a critical role in the development of the Hillside Copper-Gold Project on the Yorke Peninsula, South Australia. Consistent with the recent appointment of Ausenco (as announced on 8 March 2022), Mr. Douglas has been appointed as Rex's representative to drive the engineering, procurement and construction services for the process plant and associated infrastructure at Hillside. Douglas has strong operational performance and capital development experience within the mining and oil & gas sectors in Australia, United Kingdom, USA, South East Asia and Africa. His experience leading owners' teams for major projects located around the world is significant, and he is highly regarded by Rex as well as the broader resources industry. Announcement • Mar 31
Rex Minerals Ltd Receives Assay Results from Trial Soil Surveys (Soils) Completed At the Company's 100%-Owned Hog Ranch Gold Property in Nevada, USA Rex Minerals Ltd. has received assay results from trial soil surveys (soils) completed at the Company's 100%-owned Hog Ranch Gold Property in Nevada, USA. Highlights are: Trial soils at Airport and Bells show strong association with gold in drilling and define new target positions; Pathfinder elements also show excellent potential to find gold underneath shallow cover rocks; The Company is now confident that soils can assist in the targeting of large-scale gold mineralisation at Hog Ranch; and A large-scale soils program is underway for over 79km2 (7,900 samples) at Hog Ranch. Soil sampling results have been received from both the Airport and Bells Project locations at Hog Ranch. Both trial soil surveys were completed at a 50m x 50m spaced grid to provide for a much higher level of resolution of the gold and gold pathfinder elements when compared to the historical soil sampling information. This trial soil sampling information was completed as a test of the two most common geological environments which occur at Hog Ranch, which are: Areas of outcropping felsic host rocks at the Bells Project area, and Areas of shallow cover rocks towards the centre of the Hog Ranch caldera at the Airport Project area. Historical soil sampling information at Hog Ranch has occurred over multiple phases, using different sampling and assaying techniques and at an irregular grid - all of which has been found to be inadequate for the effective drill targeting of the gold mineralisation at Hog Ranch. In contrast to the historical soil dataset, this new trial dataset has shown that soil sampling can provide for a relatively accurate view of the gold which has also been defined by the drill hole data. Rex now has confidence that a large regional dataset could greatly assist with the discovery of new, large-scale gold mineralisation at Hog Ranch. Board Change • Mar 29
High number of new directors Independent Non-Executive Director Andrew Seaton was the last director to join the board, commencing their role in 2021. Recent Insider Transactions • Mar 17
Independent Non-Executive Director recently bought AU$150k worth of stock On the 15th of March, Gregory Robinson bought around 625k shares on-market at roughly AU$0.24 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$318k more in shares than they have sold in the last 12 months. Announcement • Mar 04
Rex Minerals Ltd. Receives Assay Results from Five RC Drill Holes Rex Minerals Ltd. has received assay results from five RC drill holes which were completed in late 2021. The results are from the Bells and Airport Projects within the Company's 100% owned Hog Ranch Gold Property in Nevada, USA. Bells drilling successfully identified extensions to the known mineralisation at depth, including higher-grade sections which typically surround the breccias. These holes were designed to test depth extensions to open gold mineralisation related to a series of breccia rocks that are interpreted to be the key conduits for the gold mineralisation at Bells. The drill holes completed at Airport were designed to test gold bearing structures both above and below the recently discovered gold mineralisation from drill hole HR21-012, which intersected 56.4m @ 2.12g/t gold. Importantly, the assay results from HR21-012 also contained two distinct high-grade sections which are interpreted to be within and surrounding the main controlling breccias/structures to the gold mineralisation. Drilling will recommence once weather permits. Bells Drilling Results: Three RC drill holes were drilled at Bells to test for deeper extensions based on open gold mineralisation from historical drilling in addition to some recent drilling by Rex indicating a deeper central core related to a large central breccia host rock. The results from the drilling at Bells have shown deeper sections of gold mineralisation than previously identified and also indicate the position of the breccia host rocks which may still extend further at depth. Some sections of higher-grade mineralisation exist at both a shallow level very close to the surface and a further higher-grade zone which appears to extend horizontally away from this interpreted breccia at a deeper level. There remain further possible extensions to the gold mineralisation at deeper levels connected to this interpreted breccia body in addition to a possible new series of breccia bodies that are untested to the south of the existing Mineral Resource at Bells. The current Mineral Resource at Bells contains 560kozs of gold 95% of which is within 150m of the surface and substantial potential remains both at depth and towards the south-west of the existing Mineral Resource. Airport Drilling Results: At the Airport project two drill holes were planned to further test the recently discovered gold mineralisation previously announce from drill hole HR21-012 which intersected 56.4m @ 2.12g/t gold. The results have indicated that a large amount of gold mineralisation is spread horizontally away from an interpreted high-grade structure, or series of structures. The understanding of the gold mineralisation at the Airport area is still at an early stage. It is apparent that the gold discovered to date, which remains open in multiple directions, exists as a very large blanket of gold mineralisation which is surrounding a series of higher-grade controlling structures. Rex remains confident that the very large volume of gold mineralisation being discovered at Airport is also likely to host a central higher-grade core within the key controlling structures which would provide the focus for any future economic studies for the Airport and Cameco area at Hog Ranch. Board Change • Jan 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. MD, CEO & Director Richard Laufmann is the most experienced director on the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Aug 05
Rex Minerals Limited announced that it expects to receive AUD 50 million in funding Rex Minerals Limited announced a private placement of 166,666,667 common shares at a price of AUD 0.3 per share for gross proceeds of AUD 50,000,000 on August 4, 2021. The transaction will include participation from new institutional investors, and all of company's non-executive directors. The transaction will close in two tranches. The first tranche will consist of 17,827,303 shares, and is expected to close on August 11, 2021. The second tranche of 148,839,364 shares is expected to close on September 17, 2021, subject to the shareholder approval to be obtained in the general meeting to be held on September 14, 2021. The directors' participation is subject to shareholder approval. The company will incur total issuance expenses of AUD 3,000,000 in the transaction. Executive Departure • Jun 04
Independent Non-Executive Chairman David Carland has left the company On the 1st of June, David Carland was replaced as CEO by Richard Laufmann after less than a year in the role. As of March 2021, David still personally held 2.20m shares (AU$71k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 5.79 years. Under David's leadership, the company delivered a total shareholder return of -67%. Announcement • Apr 18
Rex Minerals Limited announced that it expects to receive AUD 9.5 million in funding Rex Minerals Limited (ASX:RXM) announced a private placement of 39,583,334 common shares at a price of AUD 0.24 per share for gross proceeds of AUD 9,500,000 on April 16, 2021. The transaction included participation from institutional and sophisticated investors in Australia . Announcement • Mar 05
Rex Minerals Limited Receives the Final Outstanding Assay Results from Its Bells Project Rex Minerals has now received the final outstanding assay results from the Company's Bells Project (Bells), located in Nevada USA. This additional drilling data is currently being modelled to produce an updated JORC compliant Mineral Resource estimate for Hog Ranch. The new assay results from drilling at Bells have intersected significant shallow gold mineralisation in addition to confirming the continuation of a large controlling (feeder) structure extending underneath the existing Mineral Resource. Results at Bells will support further conversion of Inferred Mineral Resource into Indicated Mineral Resource; A revised and increased JORC Mineral Resource estimate is expected later this month; There is further resource expansion potential - the gold resource remains open; Drilling targets for 2021 are being designed; Significant recent drilling intercepts at Bells include: 33.5m (29m true width) @ 1.29g/t gold from surface in hole HR20-030; 24.4m (21m true width) @ 0.72g/t gold from surface in hole HR20-029. Rex completed an additional three holes at Bells aimed at identifying the extensions of a mineralised structure which appears to have an important influence on the gold mineralisation at Bells. Rex interprets this structure to be a feeder structure to the shallow disseminated gold mineralisation which could potentially lead to a high-grade gold position at greater depths. This interpretation is common to many known epithermal gold deposits similar to Bells in and around Nevada and globally. The drilling at Bells all passed through the known shallow disseminated gold mineralisation, the results for
which were largely in line with the historical drilling results. Two out of the three holes intersected and effectively tested the extensions to the interpreted structure, with elevated gold results received on this structure. The confirmation of the structure and gold mineralisation along this structure was a positive outcome with increased confidence now that a higher-grade section is likely to occur at further depths along this structure at Bells. Is New 90 Day High Low • Jan 20
New 90-day high: AU$0.21 The company is up 54% from its price of AU$0.14 on 22 October 2020. The Australian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 20% over the same period. Announcement • Dec 23
Rex Minerals Received Assay Results from Further Four Holes Drilled into the Krista Project At Its 100% Owned Hog Ranch Gold Property in Nevada USA Rex Minerals (Rex or the Company) has received assay results from a further four holes drilled into the Krista Project at its 100% owned Hog Ranch Gold Property in Nevada USA. The results include the discovery (hole HR20-023) of a new high-grade zone, extending beneath the previous interpretation including 12.2m @ 6.45g/t gold, extending from 167.6m down hole. All of the new results confirm and extend the scale of the oxide gold deposit and further define the internal higher-grade trends which exist outside the historic Geib and Krista open pits. Highlights from the new drilling results are: 210.3m (~187m true width) @ 0.66g/t gold from surface in hole HR20-023, Including 12.2m (~7m true width) @ 6.45g/t from 167.6m. 100.6m (~93m true width) @ 0.77g/t gold from 83.8m in hole HR20-025, Including 44.2m (~41m true width) @ 1.54g/t from 89.9m. 129.5m (~116m true width) @ 0.41g/t gold from 48.8m in hole HR20-024, Including 15.2m (~14m true width) @ 2.26g/t from 161.5m. 56.4m (~48m true width) @ 0.89/t gold from 19.8m in hole HR20-027, Including 30.5m (~26m true width) @ 1.44g/t from 21.3m. The recent drilling is the second of two drilling campaigns completed at Krista in 2020. The first drilling campaign was designed to test for new extensions to the gold mineralisation at Krista. Seven out of 10 drill holes successfully confirmed new extensions to the gold mineralisation at Krista from the first program. The second six hole program was designed to verify historical drilling results, confirm comnay,s geological interpretation and extend (test) the higher-grade trends within the existing inferred Krista Mineral Resource. The drilling results pertaining to announcement have successfully confirmed the locations and extensions to the interpreted higher-grade gold mineralisation, including some further extensions beneath the level of the historical drill hole information. In a number of holes, the drilling results were substantially higher-grade than the model which was based on surrounding historical drill hole information. In addition, drill hole HR20-023 was extended beneath the historical drilling and intersected new higher-grade mineralisation which is interpreted to exist on a previously undefined structure between the Krista and Geib open pits of additional significance relating to drill hole HR20-023 is that the entire drill hole was mineralised over its total 210.3m length and ended in mineralisation with the last sample returning 0.79g/t gold. Results from HR20-025, along with previously reported results from HR20-026 (74.7m at 0.92g/t gold) are interpreted to be extensions of higher-grade gold zone identified in historical diamond drill holes HR09-17 and HR04-03. Announcement • Dec 11
Rex Minerals Limited Provides First Results from the Latest Drill Program At the Krista Project Rex Minerals is pleased to provide the first results from the latest drill program at the Krista Project within its Hog Ranch Gold Property in Nevada USA. The six hole program has been completed and further results will be available by the end of the year. Announcement • Nov 18
Rex Minerals Limited Provides Maiden Drilling Results At the Krista Project Rex Minerals Limited Maiden drilling results at the Krista Project within Rex Minerals' Hog Ranch Gold Property in Nevada USA have confirmed significant gold extensions outside the current Mineral Resource. A second round of RC drilling will commence this week. New data from the recent drilling programs, including airborne hyperspectral data and ground Induced Polarisation, have significantly increased the scale of the gold-bearing alteration observed at Hog Ranch. The data indicates that the fertile Hog Ranch geological system has the potential to match the scale of some of the world's largest known gold deposits. As a consequence, Rex has now more than tripled its land position in and around Hog Ranch to ensure the prospective geology has been secured. Mining Claim area and defined Project locations at Hog Ranch: Since Rex Minerals (Rex or the Company) acquired Hog Ranch in August 2019, technical studies and field investigations identified a new prospect (Gillam) some 10km to the north-west of the Cameco/Airport area. This led to an initial phase of claim staking and the proposition that a large regional Gold Trend was emerging. More recently, investigation of the historical drilling data combined with the results from the August 2020 RC drilling, identified a huge increase in the metals trending to the north-west of Krista and into the Cameco area which are indicative of a large epithermal gold system under the cover rocks. Rex now interprets that the geochemical indicators further support evidence of a major Gold Trend. Based on an understanding of the current Mineral Resource and historical mining at Hog Ranch, Rex considers that there could be a repeated series of gold-bearing structures within this trend which continues under the cover rocks. This Gold Trend could potentially host multiple large-scale deposits from the Krista Project area up to the Gillam Prospect area, for a total distance of over 15 km. The recent program of claim staking has now increased Rex's land holding to cover the entire interpreted Gold Trend to give Rex security over what could be a major gold camp. Within the broader mining claim area, Rex defines four project areas which are all at differing stages of evaluation and development, and offer differing opportunities to Rex in terms of their likely scale and development pathway. The projects are broken down as follows in order of most advanced to least advanced: Bells Project Existing Mineral Resource of 415 kozs. Very shallow Resource which can become a low capital, open pit heap leach start-up opportunity for Rex. Scoping Study results have defined a possible ~40,000 per annum gold operation at cash costs of ~USD 900/oz. Krista Project Existing Mineral Resource of 890kozs gold, with substantial upside based on extensive alteration and additional gold hits over a 4 km2 to 5 km2 area. Cameco Project Now a larger defined region under cover rocks. Huge geochemical anomalism in the drilling data, implying a much larger deposit could exist here. Further geophysical surveys planned to focus on the potential gold positions that may exist in the broader project area. Gillam Prospect Recently defined area of prospectivity with outcropping features and geochemistry which are indicative of a hot spring or hydrothermal activity similar to the interpreted deposit type defined at Krista. Soil geochemistry and geophysical surveys planned to get this prospect up to a drill-ready stage. Drilling Results at Krista: A total of 10 drill holes were drilled to test 10 individual target locations outside of the currently defined gold mineralisation. Seven out of the 10 drill holes returned significant assay results which extended the known position of the gold mineralisation at Krista. Drill hole HR20-016 at Krista has successfully confirmed the extension of higher-grade gold mineralisation which was previously identified in the historical drilling. The higher-grade sections of this trend are over 80m in true width for some positions and extend for at least 1.0km in strike. Further extensions to this mineralised trend were also identified from drill holes HR20-021 and HR20-011, pushing the strike of the gold mineralisation to over 1.5 km in length. Drill holes HR20-012, HR20-013 and HR20-014 were all located to test for continuity of gold mineralisation between the historical Krista open pit and the East open pit area. All three drill holes were successful and confirmed that the gold mineralisation is continuous within the favourable host rock (known as the Krista Tuff) at this location. The successful results from these drill holes have shown that the gold mineralisation exists as a relatively continuous blanket with the Krista Tuff host rock for at least 2.0 km in strike length along a north-easterly direction. Drill hole HR20-017 was drilled to test extensions of a potential structure to the north-west of the historical 139 open pit. The results identified a number of lower-grade intersections, with repeated sections of gold mineralisation intersected from surface down to over 140m down hole. The total down hole intersection from surface to 141.7m averaged 0.25g/t gold. Rex interprets that this large intersection of lower-grade gold mineralisation is very close to a potentially high-grade gold position and that the results from this drill hole were a very positive first test of this target location. An additional three drill holes were located further away from the known gold mineralisation at Krista along potential mineralised structures and within the favorable Krista Tuff. The results from the more distal drill holes did not return any significant results. Announcement • Oct 06
Rex Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 0.872846 million. Rex Minerals Limited has completed a Follow-on Equity Offering in the amount of AUD 0.872846 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,289,976
Price\Range: AUD 0.165 Announcement • Sep 03
Rex Minerals Limited announced that it expects to receive AUD 10 million in funding Rex Minerals Limited. (ASX:RXM) announced a private placement of 60,606,062 shares at a price of AUD 0.165 per share for gross proceeds of AUD 10,000,000 on September 3, 2020. The transactions will include participation from new institutional and sophisticated investors. The transaction is expected to close on September 10, 2020. 
